The Internal Revenue Service (IRS) wants to revamp its tax form for nonprofits in an effort to simplify the reporting process and better inform the public about nonprofit operations.
The new Form 990 would delve more extensively into finance and governance, for instance, by making it more clear how much nonprofits pay their executives, how much they spend on fundraising and what they receive in non-cash contributions.
The IRS is accepting public comments on the proposal through Sept. 14. The proposal can be viewed at http://www.irs.gov/charities.
